09/01/2026
California lawmakers have approved legislation that could force some of America’s largest corporations to dig through their histories and publicly disclose whether they or related companies participated in or facilitated slavery.
AB 2599 applies to businesses operating in California with more than $100 million in annual worldwide gross receipts.
Companies covered by the legislation would have to search their records and those of certain parent companies, subsidiaries and predecessors for evidence involving the buying or selling of enslaved people, using enslaved people as collateral, financing their purchase, insuring enslaved people or transactions involving them, or providing other services that facilitated slavery.
The legislation points specifically to historical industries including banking, insurance, textiles, to***co, railroads, shipping and sugar.
Companies would submit sworn affidavits regarding their findings, creating a public disclosure system intended to provide greater transparency about corporate involvement in slavery.
California lawmakers have now completed legislative action on the proposal.
But one major step remains: Gov. Gavin Newsom must decide whether to sign it into law.
If signed, the legislation could force a new level of scrutiny on the historical origins of wealth still connected to major corporations operating today.
